Tilney Bestinvest backs Elliott in Alliance Trust board shake-up plan

April 21, 2015 5:18 PM

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LONDON, April 21 (Reuters) - Tilney Bestinvest, an investment advisory firm managing the voting interests of many 'mom and pop' shareholders in Alliance Trust, has said it will back activist Elliott Advisors in its campaign for a revamp of the trust's board.

Elliott, which has criticised the performance and governance of the 127-year-old British investment trust, has called a shareholder vote on the appointment of three new independent directors on April 29.